Laurus Labs shares hit 52-week high, surge over 14% this year, so far

Laurus Labs shares jumped more than 4% to hit a fresh 52-week high of ₹435 per piece on Tuesday, extending gains for the third straight day, amid a positive outlook for its associate firm ImmunoACT.

The stock has gained 14.51% this year, so far. It has already made a healthy recovery of 54.8% from its 52-week low of ₹279.6 per piece on the BSE.

The drug maker owns more than 40% stake in Immunoadoptive Cell Therapy (ImmunoACT) Private Ltd, that developed India’s first Chimeric antigen receptor (CAR) T-cell therapy, which plays a major role in cancer treatment.

ImmunoACT’s CAR T-cell therapy also got a nod from India's national regulatory body Central Drugs Standard Control Organisation (CDSCO) in October this year. The drug is used to treat leukaemia and lymphomas.

Famous hospital chains, including Max Healthcare and Amrita Hospital, have already launched the mentioned therapy at their centres. Other partnered hospitals that have begun launching ImmunoACT’s CAR T-cell therapy, include Fortis Healthcare, the Telangana-based Krishna Institute of Medical Sciences (KIMS), and Jaslok Hospital and Research Centre in Mumbai, among others.

Laurus Labs is now looking at conducting ImmunoACT’s CAR T-cell therapy trials in Mexico in order to get a licensing deal with companies in European nations.

ImmunoACT has a strong global partnerships, including Dr Carl June, pioneer of CAR T-cells therapy, as a member on the scientific advisory board. It has a portfolio of CAR T-cells therapy assets under various development stages for the treatment of multiple autoimmune diseases and oncology indications.

On another note, earlier this year, Laurus Labs retained its overall sales outlook for the ongoing fiscal. It has termed the present financial year as a year of consolidation. It has also stated that there would be better visibility in existing and new contracts and the CDMO business will see the animal health contract project kicking off.

Shares of Laurus Labs were trading ₹430.5 apiece, up 3.64%, on BSE at 12:20pm.